We've also simply created a separate debt instrument to our own LLC with a fixed return and fixed time frame (18 - 24 months) to keep 100% of the equity and not tie that money to the property, but to a UCC on our entity.

Do you form a new LLC/entity with each new property you buy or do you have one LLC/entity holding them all?

Articles of Organization (depending on the entity you choose), Statement of Authority, Operating Agreement (can be optional), Employer Identification Number (EIN).

LP generally means limited partner and is not an entity you form here in the US.

. - If this is your first and only asset, you likely do not need two entities - an LLC will suffice for now.

@Jesse Rodriguez- Do you own the property in an LLC or other business entity? 

Standard of Practice 1-2The duties imposed by the Code of Ethics encompass all real estate-related activities and transactions whether conducted in person, electronically, or through any other means.The duties the Code of Ethics imposes are applicable whether REALTORS® are acting as agents or in legally recognized non-agency capacities except that any duty imposed exclusively on agents by law or regulation shall not be imposed by this Code of Ethics on REALTORS® acting in non-agency capacities.As used in this Code of Ethics, “client” means the person(s) or entity(ies) with whom a REALTOR® or a REALTOR®’s firm has an agency or legally recognized non-agency relationship; “customer” means a party to a real estate transaction who receives information, services, or benefits but has no contractual relationship with the REALTOR® or the REALTOR®’s firm; “prospect” means a purchaser, seller, tenant, or landlord who is not subject to a representation relationship with the REALTOR® or REALTOR®’s firm; “agent” means a real estate licensee (including brokers and sales associates) acting in an agency relationship as defined by state law or regulation; and “broker” means a real estate licensee (including brokers and sales associates) acting as an agent or in a legally recognized non-agency capacity.

All my taxes on all entities were all filed with extension. 

Hey @Christian Hanus, LLC are passthrough entities for tax purposes (unless you elect to do c corp which is not applicable here) So you hiring yourself to do your own renovations really doesn't do anything material.

Interesting how some folks like to focus on asset protection issues with entities, etc., but on issues like this one, take an attitude of "its just standard", and tend not to read the contracts they sign on issues such as indemnification.As a property owner, is it appropriate to add a property manager as an additional insured on your general liability policy?